Updated on 26 November 2020
Süd-West-Kreditbank Finanzierung GmbH (SWK Bank) was founded in 1959. Now SWK Bank is a direct bank offering retail banking products and services over the Internet and thus avoiding having to support a high-cost branch network. The costs saved this way are passed on to the bank costomers.
Established in 1952, RSB Retail + Service Bank (RSB Bank) provides tailor-made central settlement for retailers and suppliers as well as retail banking products and services for individuals and companies.
Greensill Bank was established in 1927 as NordFinanz Bank. Since 2014 the major shareholder of the bank is Greensill Capital (United Kingdom). Greensill Bank provides a selected range of retail and corporate banking products, including deposit accounts, installment loans, business operating loans and trade finance.
KT Bank is the first bank in Germany, which offers a wide range of financial products and services to retail and corporate customers according to the transparent principles of Islamic banking. In March 2015, KT Bank obtained a license to perform deposit-taking and lending activities.
Deutsche Kontor Privatbank provides private banking and asset management products and services. Deutsche Kontor Privatbank also established a new brand, Deutsche Handelsbank, providing specialized products and services to e-commerce businesses to support them and promote their expansion.
GEFA Bank is an equipment and vendor finance company, offering loan, leasing, hire purchase and insurance products for mobile assets. GEFA'a products and services are offered under the brand of Societe Generale Equipment Finance.
Deutsche Pfandbriefbank AG was formed in June 2009 when two Pfandbriefbanks (eng - mortgage bond banks), Hypo Real Estate Bank AG and DEPFA Deutsche Pfandbriefbank AG were merged. Deutsche Pfandbriefbank specializes in financing of commercial real estate investments and public investment projects. The bank is the largest issuer of Pfandbriefe and an important issuer of covered bonds in Europe. Since 16 July 2015, Deutsche Pfandbriefbank AG is listed in the Prime Standard segment of the Regulated Market of the Frankfurt Stock Exchange.
GRENKE Bank is a banking arm of GRENKE Group, a German financial services group, providing banking, leasing and factoring solutions. GRENKE Bank provides financing solutions to self-employed individuals, start-ups, and companies. GRENKE Bank also offers simple, easy-to-understand banking products to natural persons, including savings and fixed term deposit accounts.
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Germany: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 1 month to 10 years (120 months). The interest rates are within the range 0.05 - 0.95 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Germany.
Average Deposit Rates. In March 2020, average annual deposit interest rate in local currency (Euro) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.12 %.
Country Deposit Rating. Germany's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).
Deposit Guarantee. Time deposit accounts made with credit institutions in Germany are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of Germany is not taxed. Interest gained on time deposit accounts by residents of Germany is taxed at 26.00% rate. When the interest is paid, this tax is automatically withhold from the time deposit account by the bank.